U.S. diesel price retreats from $4 mark

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The U.S. average diesel price retreated from its notable threshold of $4 a gallon, the first time it had hit that mark since mid-May, according to the latest figures from the U.S. Department of Energy’s Energy Information Administration. The price for the week ending Monday, Nov. 28, declined 4.6 cents to $3.964, the biggest one-week decline since a 4.7-cent dip on Sept. 26.

Nonetheless, the latest price is 80.2 cents higher than the same week last year. Before this week’s decline, the price had climbed 28.9 cents since Oct. 10 and had increased every week except for Nov. 7, when it fell 0.5 cent.

All regions tracked by DOE saw falling prices, led by a 6.1-cent decline in the Midwest, where prices fell to $3.949. The smallest decrease was 1.1 cent in New England, where the average price is $4.045.

The nation’s most expensive diesel was in California, where the average price was down 4.7 cents to $4.224. The nation’s least expensive diesel was in the Gulf Coast region, where the average price was down 4.4 cents to $3.859.

Complete diesel price information is available on EIA’s Website.